Folsom Lake Ford expects to save big on a $1.6 million energy efficiency retrofit and solar project made available through the City of Folsom’s green energy financing program, mPOWER Folsom. The retrofit-one of the largest energy efficiency retrofit and solar installations in the Sacramento Region- is financed through mPOWER Folsom.
Folsom Lake Ford will sign the contract with City of Folsom Councilmembers and the Placer County Board of Supervisor’s Chairman on Monday, March 2 at 10 a.m. at 12755 Folsom Blvd. in Folsom.
The City of Folsom’s program is part of Placer County’s mPOWER program. mPOWER is the most successful program in the Sacramento region to date. mPOWER has funded more than $23 million in energy retrofit and solar panel projects in Placer County since August 2013. Placer County provides the program in the cities of Auburn, Colfax, Folsom, Lincoln, Loomis, Rocklin, Roseville and the unincorporated areas of Placer County. Placer County officials are working to make the program available to other cities and counties throughout the Sacramento region.
mPOWER is a Property Assessed Clean Energy (PACE) program. It provides financing to residential and non-residential property owners to make energy efficiency improvements, solar and water conservation measures. PACE is unique, in that, the financing will be repaid by adding the annual installments to the property tax bill, with no money down, and no upfront costs required.
Examples of projects eligible for mPOWER financing include, but are not limited to, heating and air conditioning upgrades; high efficiency windows, doors and insulation; indoor and outdoor water conservation measures, drip irrigation systems, and artificial turf; as well as solar panel installation. Funding is available for up to 100 percent of the project costs, with terms that are longer than traditional programs-up to 20 years for many improvements-and a low, fixed, interest rate. All property types are eligible, applicants can be residential or non-residential.
What: Contract signing celebration of $1.6 million energy efficiency project and unique Partnership, pairing local business, the City of Folsom, and Placer County